For all sorts of traders, these top 7 unique forex brokers provide the greatest platforms.
In forex trading, there are several elements and components to consider. Forex brokers are an important and unavoidable part of currency trading.
The top 7 unique forex brokers combine high-value trading tools, average spreads, rapid and effective trade order execution, a trading atmosphere, and competitive pricing to give traders a winning mix.
We assessed and picked forex brokers with all-encompassing offers and resources that we felt would be acceptable for trading forex after going through an enormous list of forex brokers for currency trading and other financial assets.
What is the definition of a Forex Broker?
A forex broker is a monetary services company that provides traders with a platform via which they may buy and sell foreign currencies and other trading assets.
As a financial market investor, a broker or an exchange platform that acts as a broker is critical.
The platform connects you to the market as an investor, enabling investments and trading in the stock market.
There are several brokerage firms to pick from, but selecting a broker or platform to commit to is a difficult task because not all exchange platforms or brokers are reputable.
There are some characteristics to look for when investigating a brokerage or exchange platform before deciding which one to put your confidence and money into.
Top Forex Brokers
- Libertex: Overall Best Forex Broker and Best for the Variety of Services Offered
- XM: is, by far, the best web platform for currency pairings.
- FxPro: Broker for the pros
- Avatrade: The Best Low-Cost Forex Broker
- FXTM: Excellent client service and a fantastic platform
- Exness: For a better trading experience
- RoboForex: Excellent for traders wanting copytrading and user-friendly trading experience
№1. Libertex: Overall Best Forex Broker and Best for the Variety of Services Offered
Libertex is a reliable online CFD broker that has been in operation since 1997. It has subsequently attracted over 2 million subscribers, the majority of whom are traders and wannabe traders.
When compared to other brokers, Libertex has a lot to offer, including a solid range of markets, a clean and easy-to-use site, support for many payment methods, is available in many countries, and much more.
Overall, it is a wonderful broker for traders looking for a reliable platform and a decent pick for those looking to trade across many sectors. Libertex is the official sponsor of FC Bayern Munchen.
Pros and Cons
Libertex offers numerous advantages, but some of its disadvantages make it unsuitable for some traders. So, weigh its advantages and disadvantages and make your own decision!
PROS
- The user experience is basic and easy to use.
- A large number of technical analyses
- Free Trading Signals
- Switch between demo and actual accounts in a flash.
- Swift withdrawal process
- The minimum deposit is little as $100.
- Very easy withdrawals within 1-3 days
- Spreads are extremely low
- It’s easy to place an order.
- Buy and Sell Crypto, Shares, and many others
- Over 250 different instruments are available to trade.
- It is used by over 2,200,000 users and merchants.
- Supports MT4 and MT5
- There is a wide range of tradable assets accessible.
- Trading Course for Novices
- Fast and kind customer service
- Regulation is carried out by CySEC and FSCA.
CONS
- Many countries aren’t accepted, including the United States.
- Penalty for Inactivity
Libertex offers a 100% welcome bonus Open a Libertex Account
№2. XM: By the most, the best web platform for currency pairings.
In 2009, Trading Point Holdings, an FX and CFD broker, founded XM, a famous CFD trading broker.
Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), and Belize International Financial Services Commission (BISC) all oversee XM’s operations and activities (IFSC).
For novice and seasoned traders, XM is an ideal CFD broker. Automated trading, scalping and hedging tactics, the absence of hidden fees, and the speed with which transactions are completed are the key advantages of this broker.
Learn about the broker’s services and practice your trading strategies in a free demo account with $100,000 USD in virtual money. XM lets you trade with real and Demo money on two different trading platforms.
It is possible to trade currencies, stock indices, and precious metals on MetaTrader 4, a well-known forex trading platform, as well as on MetaTrader 5. IOS and Android devices may also access the market through these two platforms.
It offers a wide range of assets to trade, including currency pairings, CFDs on stocks, commodities, and energy contracts, as well as MT4/MT5 trading platforms with over 1000 assets to choose from.
As a result, XM is a versatile online broker that caters to traders of all levels of experience. Even if you’ve never traded before, XM is one of the best options on the market when it comes to finding a reliable and trustworthy broker.
Pros and Cons
Although XM has many advantages, it also has a few drawbacks that may not be ideal for all traders. Make your own conclusion based on its benefits and disadvantages!
PROS
- A licensed CFD broker that offers a wide range of financial products.
- Demo money worth $100,000 is available for free.
- A $5 minimum deposit.
- Spreads as low as 0.6 pips are available.
- On a small scale, trading.
- There are over a thousand distinct types of trading instruments to choose from.
- The trading platforms MT4 and MT5.
- The use of automated trading systems is authorized.
- Hedging and scalping are both permissible.
- Assistance from a trusted source.
- Webinars and assessments.
CONS
- Restricted product portfolio.
- Typical CFD fees for currency and stock index trading.
- There is no protection for non-EU clients in this regard.
XM offers a 100% welcome bonus + loyalty program Open a XM Account
№3. FxPro: Broker for the pros
FxPro is one of the leading MetaTrader brokers, offering a wide range of accounts and execution options for both MT4 and MT5. Overpriced for the market is the principal downside of a well-balanced offering.
Opening an account with FxPro is simple, quick, and completely online. FxPro’s customer support is top-notch, and it can be reached in a variety of languages and gives quick and accurate responses.
There are plenty of free methods for making deposits and withdrawals.
Pros and Cons
Forex and CFD trading are FxPro’s only offerings, on the other hand. Some stock CFDs have significant trading costs.
After a year of inactivity, there is also a fee that must be paid. So, weigh the pros and cons and make your own choice!
PROS
- Excellent procedure for opening an account.
- Customer service that exceeds expectations.
- No fees for deposit or withdrawal
CONS
- Only CFDs and foreign currency trading are available.
- The cost of non-use
Starting trading like a Pro Open a FxPro Account
№4. Avatrade: The Best Low-Cost Forex Broker
According to the company, AvaTrade, formerly known as AvaFX, is a private limited online forex and CFD broker with the mission of helping customers “buy cryptos and start trading with assurance in an innovative and trustworthy environment; supported by best-in-class customized services and ultimate transparency.”
The existence of offices and licenses in a multitude of jurisdictions adds to AvaTrade’s global reach. Investors from the United States, and several other countries, including the United Kingdom, are prohibited from trading with AvaTrade.
For both manual and automatic trading, AvaTrade provides “industry-standard spreads across a wide range of devices.”It is possible for new traders to create an account for as low as 100 dollars and to take advantage of the broker’s training and research facilities.
Additional to this, AvaTrade maintains that accounts in all countries are protected from negative balances and provides AvaProtect, which allows customers to insure their positions in the event of an unexpected loss. Avatrade is in partnership sponsor with Usain Bolt
Pros and Cons
It must be mentioned that AvaTrade does not operate within the authority of the Financial Conduct Authority (FCA), a well-respected regulatory body with a reputation for being tough in ensuring that market operations are fair for both people and corporations. Make your own decision after considering the benefits and drawbacks.
PROS
- There are Forex, CFDs, and cryptocurrencies to choose from.
- Great features only available to traders
- There are outstanding teaching opportunities accessible.
- Protect yourself against a negative balance.
CONS
- Customers from the United States are not allowed to use this service.
- There is no definite stop loss.
Trade with Usain Bolt Open a Avatrade Account
№5. FXTM: Excellent client service and a fantastic platform
FXTM, often known as ForexTime, is a global CFD and FX broker founded in 2011.
Several financial agencies regulate it, most notably the United Kingdom’s Financial Conduct Authority (FCA) and Cyprus’s Securities and Exchange Commission (CySEC).
FXTM is found to be safe since it is regulated by the top-tier FCA. FXTM customer service is swift and precise. They may be contacted in a number of languages.
Among the instructive choices are a trial account and live webinars. The procedure of creating an account is straightforward and entirely digital.
Pros and Cons
FXTM charges high CFD fees, which is a drawback. In addition, there is an inactivity cost and, in most cases, a withdrawal fee.
The product offering is limited due to the absence of ETFs, bonds, mutual funds, and other asset classes. Make your own judgment based on its upsides and downsides!
PROS
- An outstanding level of client care
- Excellent resources for instruction
- Quick and easy account creation
CONS
- CFD commissions are very expensive.
- Inactivity fees and cash withdrawal fees
- A small number of goods are available.
FXTM offers trading bonuses Open a FXTM Account
№6. Exness: For a better trading experience
An annual trading volume of $180 billion and 15,000 new accounts were established each month by the Exness Group in 2014. More than 120 financial products are available to traders with Exness today.
Exness’s trading platforms include Mt 4, Mt 5, and the MT4 WebTerminal, as well as mobile trading platforms. There are 120 different currency pairings, free VPS hosting, Dow Jones financial news, a trader’s calculator, and a currency converter all available to traders.
An 18-language version of the Exness Group’s website is now accessible, with 24-hour customer service in 13 languages. As a result, users may minimize their margin needs and manage trading strategies more effectively using leverage.
A wide variety of electronic payment solutions are available to traders so that they may withdraw their cash at any time and maintain complete control of their funds.
Pros and Cons
PROS
- Client money is kept in a separate account.
- Regulated by the CySEC, CRFIN, BaFin, CNMV, CONSOB, and FI, the company was founded in 2008.
- The minimum deposit is $50.
CONS
- Scarce selection of instruments
- Unregulated by the FCA
Start trading today Open a Exness Account Now
№7. RoboForex: Excellent for traders wanting copytrading and user-friendly trading experience
RoboForex has provided excellent trading conditions, new technologies, and years of expertise since 2009. RoboForex, a renowned financial brokerage, offers nine asset classes and 12,000 trading instruments.
RoboForex’s compliance with regulations, especially FSC, gives traders peace of mind about the safety of their funds and the morality of their trading. This creates a path that balances profitable trading opportunities with a shield of trust and security.
There are many other account types available from this broker, including the Pro-Cent, Pro, ECN, Prime, and R StocksTrader accounts, each of which has its own distinct set of terms and conditions to accommodate a wide range of traders and trading approaches.
Trading conditions, such as lower spreads and leverage of up to 1:2000, are optimized for professional and experienced traders via the availability of Pro accounts.
Pros and Cons
PROS
- Copy-Trading
- No inactivity fee
- Offers Cent Account
- Leverage upto 1:2000
- Minimum Deposit of $10
- Islamic Account Available
- They have support available around the clock.
- Competitive spreads for a wide range of tradable assets.
- Commission-Free: No commission expenses on the majority of accounts.
- Diverse Accounts: A diversity of account kinds to meet diverse trading techniques Provide access to the MetaTrader platform so that you can take advantage of its advanced trading features.
- Regulatory Compliance: Meeting all applicable rules and regulations
CONS
- US Traders are prohibited
- Learning resources for new traders should be kept to a minimum.
- There is potential for growth and improvement in customer service settings.
- Potential Leverage Risks: High leverage of up to 1:2000 is accessible.
Start trading today Open a RoboForex Account Now
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